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Penthouse Sale Breaks Australian Record

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Macrolink and Landream’s residential development, Opera Residences, has broken the Australian record for the sale of the most expensive penthouse, reaching $26m at an average rate of $95,500 per square metre.

The anonymous local buyer, however, did not stop there and also secured two of the sub penthouses. The total purchase amount came to $57m for the three apartments.

The deal was finalised by CBRE Residential Director Tim Rees who secured the sale prior to the official launch day on Saturday, November 19 as a result of unprecedented demand for the luxury residential apartments.

This penthouse sale breaks the national record for the sale of the highest priced residential apartment in Australia. The previous record was held by Melbourne’s Australia 108 development in early 2015.

Opera Residences

“There has been unprecedented demand for Opera Residences' super premium apartments and this represents the last opportunity to purchase a brand new apartment on Bennelong Point," CBRE residential Director Tim Rees said.

"The launch of Opera Residences will be unrivalled and unlike any other – something the market has not seen for more than 20 years since the opening of Bennelong Apartments.

'The sale now positions Sydney as a mature global city, reflecting rates achieved in cities like New York and London. The sale also underlines the lack of supply of super premium apartments in Sydney’s Northern CBD," he said.

The penthouse sold for $26m and boasts an impressive 270 degree outlook with grandstand views of the outstanding Sydney icons – The Sydney Opera House and Harbour Bridge with spectacular views of the city skyline.

This iconic penthouse covers 272 square metres internal space, with three bedrooms, three bathrooms and a triple lock up garage.

The sub-penthouses sold for $16m and $15m respectively – with the $16m apartment at $87,400 per square metres. Both offer three bedrooms plus study, three bathrooms, have an internal area of 183 square metres and come with two car spaces.

They also feature the same uninterrupted iconic views as the penthouse.

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Article originally posted at: https://https://theurbandeveloper.com/articles/penthouse-sale-breaks-australian-record